A Wealth-Requirement Axiomatization of Riskiness
We provide an axiomatic characterization of the measure of riskiness of gambles (risky assets) introduced by Foster and Hart (2009). The axioms are based on the concept of “wealth requirement”.
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- Palacios-Huerta, Ignacio & Serrano, Roberto, 2006.
"Rejecting small gambles under expected utility,"
Elsevier, vol. 91(2), pages 250-259, May.
- Sergiu Hart, 2010.
"Comparing Risks by Acceptance and Rejection,"
Discussion Paper Series
dp531, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
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